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Community First Bank and FHLB Dallas Award SNAP Grant to Assist Elderly Homeowner With Repairs

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NEW IBERIA, La., March 25, 2013 (GLOBE NEWSWIRE) -- Theresa Collins could not be more excited about the recent modifications made to her home. Thanks to a $4,972 Special Needs Assistance Program (SNAP) grant awarded by Community First Bank and the Federal Home Loan Bank of Dallas (FHLB Dallas), Ms. Collins now has a new front door and tile running from her kitchen to the living room and the two bedrooms of her home.

"It's beautiful, absolutely beautiful," exclaimed Ms. Collins when asked about the modifications. Ms. Collins qualified for the grant funds at the beginning of the year, and the work was promptly completed in February. "I still can't believe it. My carpet was so old and ratty, and I really needed a sturdy front door. It was a real blessing to have received this grant."

Ms. Collins is 85 years old and a native of New Iberia. She bought her home in 1987 and said that maintaining it at her age can be quite challenging. The old carpet was uneven, torn, and ragged, and Ms. Collins often tripped and was constantly afraid she was going to fall. Her front door no longer closed properly, and she had not been able to lock it in years. She applied for the SNAP grant through Community First Bank after searching several other programs for help. Community First Bank Vice President Kenny LeJeune walked Ms. Collins through the application process and oversaw the work until it was complete.

"Ms. Collins is a wonderful lady, and a great candidate for SNAP," said Mr. LeJeune. "She really needed some critical updates to her home, but her fixed income limited her options. This is what SNAP is all about – helping those in our community that cannot otherwise make these much-needed modifications on their own. We are proud to partner with FHLB Dallas to access these funds, and it is so rewarding to see how these grants significantly impact the lives of the recipient families."

SNAP grants are available through FHLB Dallas member institutions, such as Community First Bank, on a first-come, first-served basis to assist income-qualified, special needs homeowners with emergency home repairs and modifications. The program was established in 2009 and, through its member institutions, FHLB Dallas has provided more than $6 million in SNAP grant funds to 1,260 eligible homeowners.

About the Federal Home Loan Bank of Dallas

The Federal Home Loan Bank of Dallas is one of 12 district banks in the FHLBank System created by Congress in 1932. FHLB Dallas, with total assets of $35.8 billion as of December 31, 2012, is a member-owned cooperative that supports housing and community development by providing competitively priced loans and other credit products to approximately 900 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico, and Texas. For more information, visit the FHLB Dallas website at fhlb.com.

The Federal Home Loan Bank of Dallas logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=3013

CONTACT: Corporate Communications Federal Home Loan Bank of Dallas www.fhlb.com (214) 441-8445

Source:Federal Home Loan Bank of Dallas